The stress of buying a home can be avoidedFor many people buying a home can be very stressful. The process at times is very confusing. As a result here are some ways that a person can use to manage the anxiety of a real estate transaction.
The first step is to write down specific goals as to what you’re looking to accomplish. Like what can you afford, where you want to live, schools, public transportation, etc. This will save you a lot of time and money in the long run.
You then need to choose a professional and reputable Realtor. Using a recommendation from a friend or relative is the best way to choose. If you can’t get a recommendation then ask to check their references. Your realtor will then ask you to sign a Buyers Agent form. This form in the state of Connecticut needs to be signed by law, as this enables the Realtor to exclusively work for you. Your Realtor’s job is very important because they guide you through the process while educating you along the way. Your Realtor can suggest reputable lending institutions that can help you through the finance process and get you preapproved. This is a very important step in knowing what you can afford and establishing a realistic budget. Some people may try to buy a home that they can’t afford and this can cause problems down the road. Your Realtor should also establish communication between every party who is involved in the transaction. Your Realtor can also suggest a reputable attorney that can work hard for you to close the deal in a timely manner.
The next step is to work with your realtor in finding properties that suit your needs. There is always a misconception of the consumer that you have to call the listing Real Estate company to be able to see the house you want. Realtors have access to all of the properties that are advertised with other realtors through our multiple listing service (MLS). We will provide you with new homes as they come on the market, as well as price reductions of homes. Realtors will also get tips when homes will be coming on the market.
Once you have gotten your preapproval and you know what you can afford it’s time to shop, and in today’s market you will find that it is definitely a buyers market. Your Realtor will then set up appointments for showings and if you find a home you like your Realtor will then communicate your terms to the seller’s agent. This is a buffer between the buyer and the seller which helps expedite the process. If there is a mutual agreement on the price then your Realtor will help provide a due diligence period where you can perform all of your inspections, such as home, termite, radon , water, septic, etc. Realtors should be able to provide you with names of reputable home inspectors. We want you to be knowledgeable about the home you buy. This due diligence period time can also be used by you to make sure you are qualified for the mortgage. Once all your inspections are done and your mortgage process is in the works then your attorney steps in and reviews the contract. After all the contract contingencies have been met then it’s time to close the deal. A date will be set for the closing. On that day your Realtor will take you back to the property to make sure the owner has completely moved out. You will then examine the property for any damage and see that its broom swept. Be prepared to sign your name many times at the closing table. All of these documents your signing are very important and a good Attorney will guide you through each one. Once your closing process is complete then there is an exchange of keys and you become a homeowner.
The home buying process does not have to be stressful as long as you establish your goals, ask questions, and choose a professional Realtor who will take you through it step by step. Having a great relationship with your Realtor can save you time, aggravation and money.
If you are looking for a quality realtor, don’t look any further! Bondi Realty will treat you the way that you deserve to be treated. We will also educate you in the buying process so that you can make an educated decision.
Betty & Peter Bondi
203-899-9990